NEW YORK-- The third biggest U.S bank, Citigroup, is cutting more than 11 thousand jobs worldwide. The giant bank ssays the cuts are an effort to reduce costs. Reports say Citigroup will eliminate 6 thousand 200 jobs from its global banking business, and another 2,600 jobs will disappear in the bank's operations and global functions. The moves are expected to save $900 million next year and $1.1 billion annually beginning in 2014.
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